Total: 14 points out of 32

6 points for a strong exclusion of coal mining projects: ABN AMRO prohibits direct finance for the acquisition or building of thermal coal mines, and mountaintop removal (MTR) coal mines.

8 points for a strong exclusion threshold for coal mining companies: ABN AMRO prohibits financing for companies with greater than 25% revenue from thermal coal mining.

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Total: 0 points out of 32

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Total: 8.5 points out of 32

4 points for a moderate exclusion of coal mining projects: ANZ prohibits direct financing for new and expanding coal mines where reserves or production are at least 35% thermal coal.

1.5 points for the commitment to reduce exposure to coal mining companies: ANZ will limit finance to existing customers who have more than 50% thermal coal exposure if they do not have a diversification strategy by 2025, and the bank will reduce their exposure over time. By 2030, the exposure threshold for companies will be reduced to 25%. 

3 points for a weak exclusion threshold for coal mining companies: ANZ prohibits lending to new coal mining clients with material thermal coal exposures, meaning more than 10%.

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Total: 12 points out of 32

6 points for a strong exclusion of coal mining projects: Bank of America prohibits direct financing for new thermal coal mines or the expansion of existing mines.

3 points for the commitment to reduce financing to coal mining companies: Bank of America commits to phase out all financing (including underwriting and M&A advisory services) for companies that derive 25% or more of their revenue from thermal coal mining, with some exceptions for companies proving they are transitioning in alignment with the Paris Agreement. This commitment is not considered a weak phase-out commitment because it does not apply to a broad enough swath of the coal mining sector.

3 points for a weak exclusion threshold regarding coal mining companies: Bank of America does not provide any financing to any companies involved in MTR mining.

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Total: 0 points out of 32

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Total: 0 points out of 32

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Total: 5 points out of 32

2 points for a weak exclusion of coal mining projects: Bank of Montreal prohibits lending for new greenfield coal mines or significant expansions.

3 points for a weak exclusion of coal mining companies: Bank of Montreal's prohibition on financing clients that get >60% of their revenue from coal mining applies to new clients only.

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Total: 12 points out of 32

6 points for a weak exclusion of coal mining projects: Barclays does not provide project finance for the development of greenfield thermal coal mines anywhere in the world. It also does not provide general corporate financing that is specified as being for new or expanded coal mining development.

3 points for the commitment to reduce finance to coal mining companies: From 2020 onwards, Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation); By 2025, Barclays will no longer provide any financing to clients that generate more than 30% of revenue from thermal coal activities; By 2030, Barclays will no longer provide any financing to clients that generate more than 10% of revenue from thermal coal activities.

3 points for a weak exclusion threshold regarding coal mining companies: Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation).

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Total: 17 points out of 32

4 points for a moderate exclusion of coal mining projects: BBVA prohibits direct financing for new coal mines and coal mine expansions, including MTR mines, but allows exceptions for existing mines or expansion of coal mines for countries with high levels of imported energy.

8 points for a strong phase-out commitment regarding coal mining companies: BBVA targets zero exposure to coal clients by 2030 in the developed countries and by 2040 globally.

5 points for a moderate exclusion threshold for coal mining companies: BBVA prohibits financing for companies of which more than 25% of its activity consists of coal mining, but allows exceptions for companies with a diversification strategy.

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Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: BNP Paribas prohibits financing for thermal coal mining projects.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): BNP Paribas does not provide any financial products or services to companies that develop or are planning to develop thermal coal extraction capacities (new mines or expansion of existing ones).

8 points for a strong phase-out commitment regarding coal mining companies: BNP Paribas does not provide any financial products or services for mining companies that do not have a strategy to exit from thermal coal activities by 2030 for European Union and OECD countries and 2040 for the rest of the world.

8 points for a strong exclusion threshold regarding coal mining companies: BNP Paribas will not provide any financial products or services to mining entities that are producers of coal extracted from Appalachian MTR operation; and to mining entities and that do not have a strategy to exit from thermal coal activities by 2030 for EU and OECD countries and 2040 for the rest of the world. The bank will not finance mining entities that belong to groups that produce more than 10 million tons of thermal coal per year or generate more than 20% of their revenues from thermal coal.

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Total: 0 points out of 32

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Total: 0 points out of 32

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Total: 0 points out of 32

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Total: 0 points out of 32

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Total: 0 points out of 32

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Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal mining companies: China Minsheng Bank has "differentiated credit policies" for coal.

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Total: 9.5 points out of 32

6 points for a strong exclusion of coal mining projects: Citigroup provides no project-related financing for new thermal coal mines or expansions of existing mines.

3 points for the commitment to reduce financing for coal mining companies: Citigroup has commited to phase out financing for companies deriving ≥25% of their revenue from thermal coal mining by 2030, with interim targets.

0.5 point for enhanced due diligence regarding coal mining companies: Citi conducts corporate-level enhanced due diligence for the coal mining sector.

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Total: 7 points out of 32

4 points for a moderate exclusion of coal mining projects: Commerzbank prohibits direct finance for new coal mines and mountaintop removal (MTR) mines.

3 points for a weak exclusion threshold for coal mining companies: Commerzbank prohibits financing for all companies involved in mountaintop removal (MTR) coal mining.

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Total: 6 points out of 32

6 points for a moderate phase-out commitment regarding coal mining companies: Commonwealth Bank commits to reduce its exposure to thermal coal mining, with the view to exiting the sector by 2030.

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Total: 27 points out of 32

6 points for a strong exclusion of coal mining projects: Crédit Agricole prohibits any support to thermal coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Crédit Agricole prohibits financing to coal mine developers starting in 2021.

8 points for a strong phase-out commitment regarding coal mining companies: Crédit Agricole has committed to a full-fledged coal phase-out by 2030 for EU and OECD countries and 2040 for China. It requires from its clients a coal phase-out plan aligned with theses dates to continue to receive financial support from the bank starting in 2021.

5 points for a moderate exclusion threshold for coal mining companies: Crédit Agricole prohibits financing to coal mining companies above 25% of revenues coming from coal if they don't have a coal phase-out plan by 2021.

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Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: Crédit Mutuel prohibits financing for greenfield or brownfield thermal coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Crédit Mutuel prohibits financing for all coal mine developers.

8 points for a strong phase-out commitment regarding coal mining companies: Crédit Mutuel committed to a full coal phase-out by 2030. It requires its clients to have by 2021 a coal phase-out plan to close their coal assets by 2030 in order to continue to receive financial support from the bank.

8 points for a strong exclusion threshold for coal mining companies: Crédit Mutuel prohibits financing of companies with more than 20% of revenues from coal, or companies that produce more than 10 Mt of coal a year.

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Total: 7 points out of 32

2 points for a weak exclusion of coal mining projects: Credit Suisse prohibits direct finance for new greenfield thermal coal mines, and mountaintop removal (MTR) projects. 

5 points for a moderate exclusion threshold for coal mining companies: Credit Suisse will not provide finance or underwriting to mining companies that derive more than 25% of its revenue from thermal coal extraction. However, they make an exception for companies that have a credible transition strategy to diversify away from thermal coal and where the transaction proceeds make a material contribution to this transition. 

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Total: 19 points out of 32

6 points for a strong exclusion of coal mining projects: Danske Bank does not provide financing for projects expanding thermal coal mining.

8 points for a strong exclusion of companies expanding coal mining (coal mining developers): Danske Bank refrains from providing financial services to companies expanding thermal coal mining.

5 points for a moderate exclusion threshold for coal mining companies: Danske Bank does not provide financial services to companies that generate more than 5% of their revenues from thermal coal mining, but may make exceptions for companies that "can demonstrate their commitment, and ability, to phase-out the use and production of fossil fuels in alignment with the 2015 Paris Agreement."

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Total: 2.5 points out of 32

2 points for a weak exclusion of coal mining projects: DBS prohibits financing for greenfield thermal coal mines.

0.5 point for enhanced due diligence: DBS performs enhanced due diligence on coal mining companies by checking for a diversification strategy.

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Total: 9.5 points out of 32

6 points for a strong exclusion of coal mining projects: Deutsche Bank will not provide financing for new coal mines or material expansions.

3 points for the commitment to reduce financing to coal mining companies: Deutsche Bank commits to phase out coal mining exposure by 2025 worldwide (including both lending and capital markets). Deutsche Bank does not have intermediate exclusion criteria around developers or dropping non-compliant clients. This commitment only covers companies that have more than 50% of their reserves in coal mining, or 50% of their revenues.

0.5 point for enhanced due diligence regarding coal mining companies: Deutsche Bank prohibits financing for the biggest U.S. MTR coal miners. This qualifies as enhanced due diligence. The exclusion would have to be broadened, either to encompass all MTR coal miners, or some non-MTR coal miners, to qualify for a higher score.

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Total: 3.5 points out of 32

0.5 point for a MTR mine exclusion: DNB does not finance mountaintop removal activities.

3 points for a weak exclusion of coal mining companies: DNB does not finance new customers involved in coal extraction projects.

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Total: 6 points out of 32

6 points for a strong exclusion of coal mining projects: DZ Bank prohibits financing for coal mines, including mountain top removal mining.

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Total: 9.5 points out of 32

6 points for a strong exclusion of coal mining projects: Goldman Sachs's prohibition on financing for "new thermal coal mine development" covers both new mines and expansions of existing mines.

3 points for the commitment to reduce financing of coal mining companies: Goldman Sachs commits to "phase out our financing of thermal coal mining companies that do not have a diversification strategy within a reasonable timeframe." However this applies only to "significant" coal mining companies, and thus does not qualify as a weak phaseout, which must apply to most of the coal mining sector.

0.5 point for enhanced due diligence regarding coal mining companies: Goldman Sachs conducts enhanced due diligence "for transactions involving coal mining globally."

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Total: 8.5 points out of 32

4 points for a moderate exclusion of coal mining projects: HSBC prohibits financing for new thermal coal mines.

1.5 points for the commitment to reduce exposure to coal mining companies: HSBC has committed to reduce its exposure to thermal coal mining.

3 points for a weak exclusion threshold for coal mining companies: HSBC prohibits financing for new clients dependent on coal mining.

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Total: 0 points out of 32

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Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal mining companies: Industrial Bank conducts enhanced due diligence for coal mining-related transactions.

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Total: 15 points out of 32

6 points for a strong exclusion of coal mining projects: ING does not finance new or (expansions of) existing coal mines.

6 points for a moderate phase-out commitment regarding coal mining companies: ING has committed to phase out its financing for coal mining by 2025, but it does not exclude any coal developers.

3 points for a weak exclusion threshold for coal mining companies: ING excludes financing for companies above a 30% threshold involvement in coal mining, "provided our engagement does not facilitate the restricted activity itself." But the policy allows notable exceptions for application to existing clients.

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Total: 11 points out of 32

4 points for a moderate exclusion of coal mining projects: Intesa Sanpaolo will not provide finance for new coal mines. Expansion not mentioned in this policy. Intesa Sanpaolo also restricts project finance for the acquisition of companies already operating in the mining sector if this leads to mix of extracted raw materials where coal accounts for more than 50%.

4 points for a weak exclusion of companies expanding coal mining: Intesa Sanpaolo will not provide any new general purpose finance to companies engaged in the construction of new coal mines.

3 points for a weak exclusion threshold regarding coal mining companies: Intesa Sanpaolo will not provide any new general purpose finance to companies involved in coal mining operations using the Mountain Top Removal (MTR) techniques.

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Total: 8 points out of 32

2 points for a weak exclusion of coal mining projects: JPMorgan Chase prohibits financing for new greenfield coal mines only.

3 points for the commitment to reduce financing of coal mining companies: JPMorgan Chase has committed that by 2024, it will phase out its remaining credit exposure to companies deriving a majority of their revenue from coal mining. While this is a strong near-term deadline, it only applies to companies where over 50% of their revenue is derived from coal mining, and thus it does not qualify as a "weak phase-out" of the sector overall, but rather constitutes a reduction in financing for coal mining.

3 points for a weak exclusion threshold regarding coal mining companies: JPMorgan Chase prohibits "lending, capital markets or advisory services to companies deriving the majority of their revenues from the extraction of coal." If this revenue threshold were lower than 50%, this policy would be eligible for "moderate exclusion."

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Total: 0 points out of 32

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Total: 9 points out of 32

6 points for a strong exclusion of coal mining projects: Lloyds Banking Group does not finance thermal coal mines.

3 points for a weak exclusion threshold for coal mining companies: Lloyds Banking Group does not establish new commercial banking customers where revenue is derived from operating thermal mines.

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Total: 1 point out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: MUFG prohibits financing for MTR coal mining projects.

0.5 point for enhanced due diligence regarding coal mining companies: MUFG conducts enhanced due diligence for coal mining companies.

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Total: 1 point out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: Mizuho will not provide financing or investment to coal mining projects employing the mountain top removal method.

0.5 point for enhanced due diligence regarding coal mining companies: Mizuho conducts enhanced due diligence for clients involved in coal mining.

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Total: 7.5 points out of 32

4 points for a moderate exclusion of coal mining projects: Morgan Stanley excludes direct finance for new coal mines. Expansion is not mentioned in this policy. Morgan Stanley will also not provide financing for mountain top removal coal mines.

3 points for the commitment to reduce financial exposure to coal mining companies: Morgan Stanley has pledged to phase out out financing of those thermal coal mining companies that do not have a diversification strategy within a reasonable timeframe. However this applies only to "significant" coal mining companies, and thus does not qualify as a weak phaseout, which must apply to most of the coal mining sector.

0.5 point for enhanced due diligence regarding coal mining companies: Morgan Stanley conducts enhanced due diligence for thermal coal mining companies. In addition, Morgan Stanley prohibits "financing for companies that rely on MTR for anything more than a limited portion of their annual coal production" as well as for any company without "a plan to eliminate existing MTR operations in the foreseeable future." Continued financing of companies involved in MTR at all is not strong enough to be counted as a weak exclusion of coal mining companies.

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Total: 9 points out of 32

2 points for a weak exclusion of coal mining projects: NAB's policy commitment to prohibit direct financing for new thermal coal mines is limited to "weak exclusion" due to repeated breaches of the policy.

4 points for a weak phase-out commitment regarding coal mining companies: NAB commits to its thermal coal mining financing to be effectively zero by 2035.

3 points for a weak exclusion threshold for coal mining companies: NAB prohibits new thermal coal mining clients.

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Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: BPCE/Natixis prohibits financing for greenfield or brownfield thermal coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): BPCE/Natixis will no longer support companies that develop new capacity in coal-powered electricity generation or thermal coal mining.

8 points for a strong phase-out commitment regarding coal mining companies: BPCE/Natixis commits to fully withdraw from the thermal coal sector by 2030 for EU and OECD countries, and 2040 for the rest of the world. Companies must have provided or have ensured to provide by the end of 2021 a transition plan to fully withdrawal from thermal coal by 2030/2040.

8 points for a strong exclusion threshold for coal mining companies: BPCE/Natixis prohibits financing for companies whose activity is greater than 25% thermal coal mining (measured in revenues).

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Total: 15 points out of 32

4 points for a moderate exclusion of coal mining projects: NatWest does not finance new thermal coal mines.

6 points for a moderate phase-out commitment regarding coal mining companies: NatWest committed to stop lending and underwriting to companies with more than 15% of activities related to coal, unless they have a credible transition plan in line with 2015 Paris Agreement by end of 2021. NatWest will fully phase-out from coal by 2030. This phase-out commitment is assessed as moderate due to lack of details on what a credible transition plan is.

5 points for a moderate exclusion threshold for coal mining companies: NatWest committed to stop lending and underwriting to companies with more than 15% of activities related to coal, unless they have a credible transition plan in line with 2015 Paris Agreement by end of 2021. This commitment could be strengthened with further clarification on what Paris Alignment means.

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Total: 3 points out of 32

3 points for a weak exclusion of coal mining companies: Nordea does not start new banking relationships with companies that are predominantly dependent on thermal coal, including mining companies involved in the extraction of thermal coal.

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Total: 0 points out of 32

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Total: 2 points out of 32

2 points for a weak exclusion of coal mining projects: OCBC prohibits "new financing of Lignite Coal Mines" only.

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Total: 0 points out of 32

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Total: 2 points out of 32

1.5 points for the commitment to reduce exposure to coal mining companies: PNC states that "over the last few years, we have gradually reduced our lending to coal mining companies."

0.5 point for enhanced due diligence regarding coal mining companies: PNC conducts enhanced due diligence for coal mining companies, and prohibits "new lending to coal producers with anything more than a de minimis exposure to mountaintop removal mining."

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Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal mining companies: Postal Savings Bank of China conducts enhanced due diligence for coal-related transactions.

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Total: 6 points out of 32

6 points for a strong exclusion of coal mining projects: Rabobank prohibits financing for all thermal coal mining projects.

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